Is Safemoon a Good Investment or A Cryptocurrency Scam?
Let’s take a closer look
2 min readMay 11, 2021
Will Safemoon actually get to the moon? Or it a modern-day pyramid scheme?
Safemoon is catching all kinds of hype for being a deflationary, community-driven Crypto investment.
The core idea is that sellers get hit with a penalty for selling and that penalty gets redistributed to everyone who keeps holding.
The loyal will get rewarded.
But is it a good investment?
Safemoon’s only source of value right now (before they deliver on any promise of an exchange or wallet) is acquiring more ‘Hodlers’.
This is how it works:
- You hold Safemoon.
- More people buy it, reducing the supply.
- The value goes up.
- People sell.
- The value goes down — but you get more tokens as a consolation prize.
It has no ‘use’ other than its promise to give you more tokens as people sell.